Nektar Therapeutics (NASDAQ:NKTR) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Nektar Therapeutics (NASDAQ:NKTR) has earned an average rating of “Moderate Buy” from the seven analysts that are covering the firm, Marketbeat reports. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $4.08.

Several equities analysts have commented on the stock. B. Riley assumed coverage on shares of Nektar Therapeutics in a research report on Wednesday, January 8th. They set a “buy” rating and a $4.00 target price on the stock. HC Wainwright reiterated a “buy” rating and set a $6.50 price target on shares of Nektar Therapeutics in a research note on Tuesday, February 25th. Finally, William Blair reissued a “market perform” rating on shares of Nektar Therapeutics in a research note on Tuesday, February 25th.

Insider Activity

In related news, CEO Howard W. Robin sold 46,995 shares of the stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $1.01, for a total transaction of $47,464.95. Following the completion of the sale, the chief executive officer now owns 1,195,710 shares in the company, valued at $1,207,667.10. This represents a 3.78 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jonathan Zalevsky sold 51,115 shares of the firm’s stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $0.94, for a total value of $48,048.10. Following the completion of the sale, the insider now directly owns 326,904 shares in the company, valued at $307,289.76. This trade represents a 13.52 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 165,586 shares of company stock valued at $159,990. 3.71% of the stock is owned by insiders.

Institutional Trading of Nektar Therapeutics

Hedge funds have recently bought and sold shares of the stock. Eventide Asset Management LLC increased its holdings in shares of Nektar Therapeutics by 24.8% during the 3rd quarter. Eventide Asset Management LLC now owns 9,400,000 shares of the biopharmaceutical company’s stock worth $12,220,000 after purchasing an additional 1,870,904 shares during the period. Nantahala Capital Management LLC increased its stake in Nektar Therapeutics by 90.0% during the fourth quarter. Nantahala Capital Management LLC now owns 7,810,000 shares of the biopharmaceutical company’s stock valued at $7,263,000 after acquiring an additional 3,700,000 shares during the period. Woodline Partners LP raised its holdings in Nektar Therapeutics by 187.3% in the 4th quarter. Woodline Partners LP now owns 4,974,512 shares of the biopharmaceutical company’s stock valued at $4,626,000 after acquiring an additional 3,242,841 shares in the last quarter. Renaissance Technologies LLC raised its holdings in Nektar Therapeutics by 17.5% in the 4th quarter. Renaissance Technologies LLC now owns 3,910,786 shares of the biopharmaceutical company’s stock valued at $3,637,000 after acquiring an additional 583,153 shares in the last quarter. Finally, State Street Corp lifted its position in shares of Nektar Therapeutics by 11.9% in the 3rd quarter. State Street Corp now owns 3,345,733 shares of the biopharmaceutical company’s stock worth $4,349,000 after acquiring an additional 355,759 shares during the period. 75.88% of the stock is owned by institutional investors.

Nektar Therapeutics Stock Up 5.5 %

Shares of NKTR opened at $0.84 on Wednesday. The firm has a market cap of $155.65 million, a price-to-earnings ratio of -1.00 and a beta of 0.58. The company’s fifty day moving average is $0.90 and its 200-day moving average is $1.10. Nektar Therapeutics has a 12 month low of $0.65 and a 12 month high of $1.93.

About Nektar Therapeutics

Nektar Therapeutics, a biopharmaceutical company, focuses on discovering and developing medicines in the field of immunotherapy in the United States and internationally. The company is developing rezpegaldesleukin, a cytokine Treg stimulant that is in phase 2 clinical trial for the treatment of systemic lupus erythematosus and ulcerative colitis, as well as phase 2b clinical trial to treat atopic dermatitis and psoriasis; and NKTR-255, an IL-15 receptor agonist, which is in phase 1 clinical trial to boost the immune system's natural ability to fight cancer.